Mkpoikana Udoma
Port Harcourt — Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), has outlined key achievements in Nigeria’s oil sector transformation, crediting President Bola Ahmed Tinubu’s directive to ramp up oil production as the catalyst for the remarkable progress.
Lokpobiri emphasized that the President’s visionary directive became the cornerstone of the sector’s transformation.
The Minister explained that his team embraced the challenge wholeheartedly, engaging both domestic and international stakeholders to build synergy and foster partnerships.
“With the Presidential directive to ramp up oil production to a sustainable level, the journey of transformation in our oil sector began. This visionary directive by President Bola Ahmed Tinubu, as broad as it was, became the cornerstone of my commitment and that of my team.”
Lokpobiri also highlighted the successful attraction of foreign investments, the win to host the Africa Energy Bank, and the full deregulation of the downstream sector, ensuring continuous availability of petroleum products.
“We have boosted output to 1.8mbpd, inclusive of condensates, and continue to aspire for even greater heights.
“Our achievements include attracting foreign investment decisions, winning the bid to host the Africa Energy Bank, sustaining peace across host communities through robust community engagements, and fully deregulating the downstream sector, ensuring constant availability of petroleum products,” he noted.
Lokpobiri also addressed the reforms introduced under his leadership, including the elimination of bureaucratic bottlenecks in licensing and efforts to build capacity among indigenous players.
He expressed confidence that the sector’s future growth would greatly benefit Nigerians.
“Reflecting on this journey, it is evident we have made remarkable strides. From where we started to where we are now, the progress is undeniable. With these accomplishments, the future promises even greater growth and development for the benefit of Nigerians,” Lokpobiri said.
